Chelsea Groton Bank
Norwich, CT 6360
⭐ SBA Preferred LenderStates Served
Top Industries Financed
- Sporting Goods Stores
- Car Washes
- Retail Bakeries
- Fitness and Recreational Sports Centers
Quick Summary
Chelsea Groton Bank is an SBA-approved lender headquartered in Norwich, Connecticut. They are an SBA Preferred Lender, meaning they can approve loans without prior SBA review. Since 2020, they have approved 6 SBA 7(a) loans totaling $2.9M, with an average loan size of $476K. They primarily serve Connecticut businesses.
About Chelsea Groton Bank
Chelsea Groton Bank is an SBA-approved lender headquartered in Norwich, Connecticut. Since 2020, they have approved 6 SBA 7(a) loans totaling $2.9M, with an average loan size of $476K. As an SBA Preferred Lender, they have delegated authority to approve SBA loans without prior SBA review, resulting in faster processing times. They primarily serve businesses in Connecticut.
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Frequently Asked Questions
Is Chelsea Groton Bank an SBA Preferred Lender?
Yes, Chelsea Groton Bank is an SBA Preferred Lender (PLP). This means they have delegated authority from the SBA to approve loans without prior SBA review, resulting in faster approvals — typically 7–10 business days instead of 4–6 weeks.
How many SBA loans has Chelsea Groton Bank approved?
According to SBA FOIA public records, Chelsea Groton Bank has approved 6 SBA 7(a) loans totaling $2.9M since 2020. Their average loan size is $476K.
What states does Chelsea Groton Bank serve?
Chelsea Groton Bank primarily serves businesses in Connecticut.
How do I apply for an SBA loan with Chelsea Groton Bank?
To apply for an SBA 7(a) loan with Chelsea Groton Bank, contact them directly through the form on this page. Before applying, check your FICO SBSS score (the SBA's pre-screening score) and have your financial statements, business plan, and tax returns ready. Most SBA lenders require 2+ years in business, $100K+ annual revenue, and a personal credit score of 640+.
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